Airfloa Rail Technology Limited Reports IPO Proceeds Utilization for Q3 FY26

Airfloa Rail Technology Limited convened a board meeting on February 14, 2026, to review and approve the utilization of Initial Public Offer (IPO) proceeds for the quarter ended December 31, 2025. The meeting, held pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, addressed the company's compliance with IPO fund deployment requirements. IPO Details and Fund Mobilization The company successfully completed its public issue from September 11, 2025, to September 15, 2025, raising Rs. 9,109.80 lakhs. The IPO was conducted by Airfloa Rail Technology Limited, formerly known as Airflow Equipments India Pvt Ltd, a manufacturer of railway products. The net proceeds from the issue amounted to Rs. 8,884.80 lakhs after accounting for issue expenses. Fund Utilization Progress The company demonstrated significant progress in deploying IPO proceeds across its stated objectives during the quarter: Objective Proposed Amount (Rs. Lakhs) Beginning of Quarter During Quarter End of Quarter Unutilized Amount Repayment of loan 600.00 600.00 0.00 600.00 0.00 Working Capital 5,927.02 3,971.31 1,955.71 5,927.02 0.00 Capex 1,367.78 36.10 78.27 114.37 1,253.41 General Corporate Funds 990.00 0.00 990.00 990.00 0.00 Total 8,884.80 4,607.41 3,023.98 7,631.39 1,253.41 As of December 31, 2025, the company has utilized Rs. 7,631.39 lakhs out of the total net proceeds, representing approximately 86% deployment. The primary area with remaining funds is capex, where Rs. 1,253.41 lakhs remains unutilized. Fund Management and Deployment The company maintains a structured approach to fund management through monitoring agency arrangements. Rs. 8,732.21 lakhs was transferred from the Public Issue Account to the Monitoring Agency Account, while Rs. 152.59 lakhs remains in the Public Issue Account. During the quarter, Rs. 285.17 lakhs was transferred from the monitoring agency to the company's current account and was fully utilized toward the stated objectives. Instrument Type Amount (Rs. Lakhs) Maturity Date Earnings Return Rate Monitoring Agency Account 100.82 NA NIL NA Public Issue Account 152.59 NA NIL NA Fixed Deposit - Axis Bank (382542) 350.00 05/01/2026 2.50 3.75% Fixed Deposit - Axis Bank (413413) 350.00 05/01/2026 2.50 3.75% Fixed Deposit - Axis Bank (413578) 300.00 05/01/2026 2.14 3.75% Total 1,253.41 7.14 General Corporate Purpose Utilization The company deployed Rs. 990.00 lakhs allocated for General Corporate Purposes as follows: Capex: Rs. 200.00 lakhs for advance payment toward land purchase Working Capital: Rs. 790.00 lakhs for material purchases under working capital requirements Regulatory Compliance and Auditor Certification Varadarajan & Co, Chartered Accountants, the company's statutory auditors, certified that the utilization of net proceeds during the quarter ended December 31, 2025, is in agreement with the unaudited books of account and in accordance with the purposes mentioned in the IPO prospectus. The auditors confirmed no material deviations from the stated objectives and found all utilization to be as per offer document disclosures. The company reported no delays in implementation of objectives during the quarter and confirmed that no cost revisions were made to the original project estimates. The monitoring agency report for the quarter ended December 31, 2025, was also approved as per Regulation 262 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.